The bill amends the Michigan strategic fund act to establish the Michigan defense center, which is tasked with focusing on job creation and retention related to homeland security and defense contracts. The center will coordinate with APEX Accelerators to enhance business opportunities for small businesses and prioritize support for municipalities affected by manufacturing layoffs. It sets a performance objective to increase defense and homeland security contracts awarded to Michigan-based businesses and outlines the need for resources to meet this objective.

Additionally, the bill specifies that the Michigan defense center will hire an executive director and support staff, with the potential for further hiring based on an approved business plan. It prohibits the use of state funds for constructing or renovating buildings for the center's use. The bill also mandates that any APEX Accelerator or entity receiving funding from the Michigan defense center must report annually on the use of those funds and the contracts obtained. Key terms such as "Michigan defense center" and "Michigan strategic fund" are defined within the bill.

Statutes affected:
Senate Introduced Bill: 125.1972
As Passed by the Senate: 125.1972